Lufthansa goes back to 100% private after sale of German state shares
The German state sold all its stakes in the capital of the airline group Lufthansa, where it had acquired 20% in 2020 on the occasion of a massive rescue plan in the face of the coronavirus pandemic.
The economy stabilization fund, the public body that held those shares, “sold its last holdings to investors,” it said Tuesday night.
“The company is back in private hands,” said Jutta Dönges, head of the fund.
→ Lufthansa announces first route that its new Boeing 787.
Lufthansa was saved from bankruptcy by the German government in June 2020, when the group was hard hit by the coronavirus pandemic.
Berlin agreed to the group a massive €9 billion aid plan, which involved a public entry to the capital in the order of 20%.
But this participation was always considered temporary by the public authorities, and was to cease as soon as the situation improved.
This transaction follows several sales that had already reduced the public presence in Lufthansa to 14.09% in 2021 and 9.92% last July.
“On behalf of all Lufthansa employees, I would like to thank the current and former government and all German taxpayers for their support of our airline during the most severe financial crisis in our company’s history,” said Carsten Spohr, Chairman of the Board of Management and CEO of Deutsche Lufthansa AG.
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